Buyers queue for quake-hit properties
Sam Staite, of commercial real estate firm CBRE, said he had a long list of investors wanting to buy commercial properties that were damaged in Christchurch's earthquakes.
Last month four were sold but he expected the rate of sales to pick up over the coming months as more people were in a position to sell. "People have only just started to settle with their insurance companies."
Sales prices would depend on how much value purchasers perceived to be left in a property. In many cases, that was land value.
Most sold were those that the insurance company had deemed uneconomical to repair. Landlords had already been paid out the sum the buildings were insured for.
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